LOUISVILLE, Ky.--(BUSINESS WIRE)--Feb. 12, 2004--Sypris Solutions, Inc. (Nasdaq/NM: SYPR) today announced the filing of a registration statement with the Securities and Exchange Commission in connection with a proposed public offering of 3,000,000 shares of common stock. All of the shares are being offered by the Company and the offering represents a new financing by the Company. Needham & Company, Inc. will act as lead underwriter and Robert W. Baird & Co. Incorporated and Raymond James & Associates, Inc. will serve as co-managers in this underwriting. The Company expects to grant to the underwriters a 30-day over-allotment option to purchase up to an additional 450,000 shares of common stock.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Copies of the preliminary prospectus, when available, may be obtained from Needham & Company, Inc. at 445 Park Avenue, New York, NY 10022; Robert W. Baird & Co. Incorporated at 777 East Wisconsin Avenue, Milwaukee, WI 53202; and Raymond James & Associates, Inc. at 880 Carillon Parkway, St. Petersburg, FL 33716.

Sypris Solutions is a diversified provider of technology-based outsourced services and specialty products. The Company performs a wide range of manufacturing and technical services, typically under multi-year, sole-source contracts with major corporations and government agencies in the markets for aerospace and defense electronics, truck components and assemblies, and for users of test and measurement equipment.

The foregoing statements regarding Sypris Solutions' intentions with respect to the contemplated common stock offering are forward-looking statements under the Private Securities Litigation Reform Act of 1995, and actual results could vary. Sypris Solutions' ability to complete the offering successfully is subject to various risks, many of which are outside of its control, including prevailing conditions in the public capital markets and other risks and uncertainties as detailed from time to time in the reports filed by the Company with the Securities and Exchange Commission.

CONTACT: Sypris Solutions Inc., Louisville
David D. Johnson, 502-329-2000

SOURCE: Sypris Solutions Inc.